Under $500K Investment Properties for Sale in Rapid City, SD
Listed for sale 1 day ago
$ 349,000
ROI
20.9
Cash Flow/m
112- 3 Bed
- 2 Bath
- 1542 sft
2706 Tomahawk Dr, Rapid City, SD, 57702
$ 145,900
ROI
25.7Cash Flow/m
242- 3 Bed
- 2 Bath
- 1170 sft
840 N Spruce St, Rapid city, SD, 57701
Listed for sale 1 day ago
$ 347,000
ROI
22.7Cash Flow/m
282- 2 Bed
- 2 Bath
- 1295 sft
812 Petros Dr, Rapid City, SD, 57701
Currently Rented
$ 215,000
ROI
25.1Cash Flow/m
318- 2 Bed
- 1 Bath
- 806 sft
23726 Garnet Gulch Rd, Rapid city, SD, 57702
Why Invest in Rapid City, South Dakota?
Discover investment properties under $500K in Rapid City, SD, offering strong entry points for cash-flowing rentals. The market features competitive cap rates around 7-8% and steady rental yields. With a stable economy driven by tourism and defense, appreciation averages 4% annually. Renter-occupied housing exceeds 35%, supporting reliable income streams. Low vacancy and growing demand make these properties attractive for long-term holds.
8.5%
Avg. ROI
7.2%
Rental Yield
7.8%
Cap Rate
$450/mo
Avg. Cash Flow
$1250/mo
Avg. Rent
4.1%
1Y Appreciation
Frequently Asked Questions
Investors can expect cap rates of 7-8% and rental yields around 7%, with average monthly cash flow near $450. Appreciation supports 4% annual growth. These metrics hold for single-family and small multifamily properties.
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